Illinois Municipal Retirement Fund Reduces Stake in Tractor Supply Company (NASDAQ:TSCO)

Illinois Municipal Retirement Fund cut its holdings in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 344,382 shares of the specialty retailer's stock after selling 7,528 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Tractor Supply worth $18,975,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. grew its position in Tractor Supply by 381.5% during the fourth quarter. First Horizon Advisors Inc. now owns 1,690 shares of the specialty retailer's stock valued at $90,000 after buying an additional 1,339 shares during the period. IFP Advisors Inc grew its position in Tractor Supply by 260.5% in the fourth quarter. IFP Advisors Inc now owns 25,095 shares of the specialty retailer's stock worth $1,335,000 after acquiring an additional 18,134 shares during the period. Pine Valley Investments Ltd Liability Co increased its position in shares of Tractor Supply by 390.4% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 4,796 shares of the specialty retailer's stock valued at $254,000 after acquiring an additional 3,818 shares during the last quarter. Sentry Investment Management LLC raised its position in Tractor Supply by 330.4% in the fourth quarter. Sentry Investment Management LLC now owns 2,040 shares of the specialty retailer's stock valued at $108,000 after purchasing an additional 1,566 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Tractor Supply by 403.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,912,752 shares of the specialty retailer's stock worth $207,611,000 after acquiring an additional 3,135,384 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSCO has been the subject of a number of analyst reports. Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a research report on Friday, April 25th. Mizuho cut their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. UBS Group set a $54.00 price objective on Tractor Supply in a research note on Friday, April 25th. Citigroup reduced their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Raymond James Financial decreased their price target on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president now directly owns 29,722 shares in the company, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan S. Estep sold 56,630 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total value of $3,001,390.00. Following the completion of the sale, the executive vice president now owns 74,605 shares of the company's stock, valued at $3,954,065. This trade represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company's stock.

Tractor Supply Stock Performance

Shares of TSCO opened at $51.84 on Friday. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $61.53. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.84 and a beta of 0.74. The business's 50 day moving average is $50.89 and its two-hundred day moving average is $53.08.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Tractor Supply Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.

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